CAF Raises $200m with Private FRN

Corporacion Andina de Fomento (CAF) has raised $200m through a private placement, Gabriel Felpeto, CAF’s director for financial policies, tells LatinFinance. The AA minus/Aa3/A+ supranational lender’s 2015 floating-rate note priced at par with a coupon of Libor+53bp. Bank of America Merrill Lynch was sole lead. The deal follows a EUR200m 2033 transaction sold in the German market in September, which priced at 95.643 with a 3.625% coupon to yield 3.944%. Felpeto says while CAF’s funding needs are taken care of for the year, the borrower will continue to look at the USD, EUR and other markets for possible prefunding opportunities.